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Business News of Wednesday, 26 August 2020


COVID-19 has delayed but not derailed our progress - Bawumia

Vice President, Dr. Mahamudu Bawumia Vice President, Dr. Mahamudu Bawumia

Vice President, Dr. Mahamudu Bawumia has expressed optimism that the strong economic fundamentals of the Akufo-Addo government will propell the country to overcome the devastating effects of Coronavirus on the economy.

In an exclusive interview with Kwame Sefa Kayi on Peace FM's Kokrokooo on Tuesday, the Vice President indicated that covid-19 has only delayed the progress of the country but has not derailed the progress of the nation.

"Covid-19 has delayed but not derailed our progress as a nation," Vice President Bawumia said

He added that the strong economic fundamentals of the country, as positively indicated by all economic indicators prior to the outbreak of the pandemic, shows the Akufo-Addo government has what it takes to keep the country moving forward.

"We inherited a very bad economy but in just three years, we had turned it around before covid-19 hit us earlier this year and this helped us to respond. It also shows we have what it takes to move the country forward beyond the pandemic," Dr. Bawumia indicated.

The Vice President added that the outbreak of the pandemic offered the government a practical implementation of the Ghana Beyond Aid vision of President Akufo-Addo, and it will help accelarate the vision of self production and self-sufficiency.

"The President has been talking about Ghana beyond aid and when Covid struck, it gave us a practical implementation of Ghana Beyond aid," said the Vice Preaident.

"We realised we didn't have PPEs in our hospitals and we decided not to import these critical equipment but to produce them locally ourselves.

"Domestic production is very important and we are looking at that; prosucing things internally."

"As we have in our manifesto, we are focusing on a lot of made in Ghana products in terms of government procurement."

Dr. Bawumia further indicated that post covid, President Akufo-Addo’s flagship industrialisation One District One Factory policy will play a significant role in the forward march of the country.

"Thankfully for Ghana, we were already on the path of Ghana beyond aid, and with covid, it is going to accelarate the Ghana beyond aid."

"When you look at industrialisation, 1D 1F is already in place and we are ahead of many countries in Africa in terms of industrialisation."

"The automotive industry is also coming into stream and coming in its own. VW is in, Kantanka is here and Toyata is coming.

"We are building all these automobile i dustries to come in and move the country forward together witt other industries."

Ghana has been hailed as a rare example in Africa as having handled the Coronavirus pandemic well, in terms of government's response to the crisis.

The government has earned praise for its direct handling of the virus, as well as its mitigating measures to alleviate the impact of the pandemic on businesses and citizens, especially low income earners.